Truffle Hound Capital LLC Trims Holdings in OP Bancorp $OPBK

Truffle Hound Capital LLC lowered its holdings in shares of OP Bancorp (NASDAQ:OPBK) by 28.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400,000 shares of the company’s stock after selling 160,000 shares during the period. OP Bancorp accounts for 1.3% of Truffle Hound Capital LLC’s investment portfolio, making the stock its 13th largest holding. Truffle Hound Capital LLC owned 2.69% of OP Bancorp worth $5,196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of OPBK. Geode Capital Management LLC increased its stake in OP Bancorp by 118.3% in the second quarter. Geode Capital Management LLC now owns 273,701 shares of the company’s stock valued at $3,556,000 after purchasing an additional 148,299 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of OP Bancorp by 45.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 129,342 shares of the company’s stock worth $1,680,000 after buying an additional 40,414 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of OP Bancorp by 15.2% during the first quarter. Acadian Asset Management LLC now owns 271,112 shares of the company’s stock worth $3,254,000 after buying an additional 35,708 shares during the last quarter. Jane Street Group LLC increased its position in OP Bancorp by 124.6% in the 1st quarter. Jane Street Group LLC now owns 45,394 shares of the company’s stock valued at $546,000 after acquiring an additional 25,181 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in OP Bancorp by 45.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 62,824 shares of the company’s stock valued at $755,000 after acquiring an additional 19,758 shares during the period. 53.63% of the stock is owned by hedge funds and other institutional investors.

OP Bancorp Stock Performance

NASDAQ OPBK opened at $12.65 on Tuesday. The stock has a market capitalization of $188.36 million, a price-to-earnings ratio of 8.06 and a beta of 0.74. The business’s 50 day moving average is $13.72 and its two-hundred day moving average is $13.34. OP Bancorp has a 12-month low of $10.43 and a 12-month high of $18.57. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.34.

OP Bancorp (NASDAQ:OPBK) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. OP Bancorp had a return on equity of 11.09% and a net margin of 14.42%.The business had revenue of $24.48 million during the quarter, compared to analysts’ expectations of $24.25 million. Research analysts expect that OP Bancorp will post 1.9 EPS for the current year.

OP Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Thursday, November 6th. OP Bancorp’s payout ratio is presently 30.57%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of OP Bancorp in a research report on Thursday. Keefe, Bruyette & Woods upped their price target on OP Bancorp from $15.50 to $16.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. Zacks Research raised OP Bancorp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Finally, DA Davidson lifted their price objective on shares of OP Bancorp from $16.50 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

OP Bancorp Profile

OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It offers demand, checking, savings, money market, and time deposit accounts, as well as certificates of deposit. The company also provides commercial real estate, small business administration, commercial and industrial business, single-family residential, term, consumer, and home mortgage loans; trade financing products; and letters of credit, and SWIFT and export advice.